On September 24th, the 2020 China International Finance Exhibition kicked off. With the theme of “Technology Innovation and Financial Transformation, Improving Quality and Efficiency”, this year’s International Finance Exhibition will comprehensively demonstrate the financial industry’s adherence to technology leadership and innovation-driven development through online and offline linkage. Achieved stronger service entities, empowered financial services to improve quality and efficiency and the ability to resist risks, a more complete industrial form, a more diversified development model, and more abundant innovations. As a leading company in the cloud-native open source HTAP database, PingCAP was invited to participate in the exhibition. At the same time, partner and executive vice president Yu Mengjie published the "From Critical Computing to Core Transaction-Cloud Native HTAP Database TiDB Global Financial Application Practice" Keynote Speech.
The financial industry is paying more and more attention to distributed databases in key business and core transaction scenarios during the advancement of digital transformation. Yu Mengjie gave a keynote speech at this international financial exhibition. From the key business of the financial industry, he interpreted TiDB's financial production-level core capabilities such as core accounting, payment, online lending, risk control, anti-fraud, transaction monitoring, and real-time data warehouse. And other key scenarios.
Yu Mengjie, Partner and Executive Vice President of PingCAP
Yu Mengjie said that PingCAP attaches great importance to the financial industry. Since the beginning of 2018, it has established a product strategy committee to conduct in-depth research on customer needs in the financial industry, and use this to guide the iterative path of product development and continuously improve the support capabilities of key financial core businesses. Since TiDB 3.0, features such as pessimistic lock, dual-center strong consistency, distributed physical backup and recovery, TiCDC, and Geo Partition have been introduced. At the same time, every version of TiDB has an average performance improvement of 100%, which meets the diverse needs of financial industry business scenarios. TiDB has undergone globalization, multi-industry, and massive data scenarios for nearly 1,000 users. It is stable and reliable, and has the ability to support key financial core businesses. Yu Mengjie also stated that the best way of sustainable development is to integrate internationally and become a global standard. TiDB has been launched and commercialized in the United States, Japan, Germany, France, the Netherlands, Singapore, Vietnam, India, Malaysia and other countries; TiKV project also graduated from CNCF this month and became a CNCF top project; TiDB project led by Chinese Already has a wide range of global influence.
The "Financial Technology Development Plan (2019-2021)" proposes that in the field of distributed databases, it is planned and step-by-step to steadily promote the first trial of distributed database products, and form typical cases and solutions that can be used for reference and can be promoted. Proved path for the comprehensive application of database in the financial field. TiDB is a leading cloud-native HTAP distributed database product, with important advantages such as horizontal expansion or shrinkage, financial-level high availability, real-time HTAP, cloud native, compatibility with MySQL open protocol, and active ecology. TiDB-based online transaction master database solutions, key business batches and aggregate query post database solutions, business unitized architecture backend core batches and aggregate query post database solutions have been implemented in many financial companies and have achieved a series of innovative results.
Many on-site visitors came to PingCAP booth to communicate
The 2019 Banking Technology Development Award Award Ceremony was held at the same time. Shenzhen Qianhai WeBank won the first prize of the 2019 Banking Technology Development Award for its "Kunpeng Chip Application in Banking" project. WeBank uses Kunpeng chip technology in the underlying hardware resources, and continues to promote the localization of the bank’s core system from all aspects of hardware infrastructure, distributed databases, core business application systems, and banking transaction systems. PingCAP ) The expert team has deeply participated in the verification of the TiDB database adaptation of WeBank on the domestic ARM64 platform.
Everbright Bank's "New Generation Wealth Management Platform Based on Full Stack Distributed Architecture" won the third prize. The project adopts a full stack distributed architecture and a multi-center and multi-active disaster recovery system based on the TiDB distributed database to support key online transactions and batches Processing business, while providing sufficient guarantee for the business development of large-scale reliable online financial transactions in the future.
Bank of Beijing's "Bank Data Center Construction and Application under the Background of Digital Transformation" won the second prize. Previously, the Bank of Beijing distributed core system construction project jointly created by Bank of Beijing and Pingkai Xingchen won the 2020 Asian Banker "China's Best Core Banking Technology Implementation" award. It has not only built a high-concurrency, high-availability, and horizontally scalable Solutions, and greatly shortened the time for research and development of new products and services, established a differentiated competitive advantage, and improved the financial service capabilities of Bank of Beijing.